[fredwilson]

i don't entirely agree fourply. there are benefits that come from working with startup lawyers who are part of the "system". they can help a young company in many ways. but they need to figure out how to work more efficiently at the startup phase.

[fourply]

I'm certain that's right - someone unfamiliar with the process will have to invest more time with the first few clients and might stumble a bit at first, but not in ways that would prejudice anyone's interests. The networking advantages a "connected" lawyer can provide to a startup are huge, but a VC like yourself could bring a new lawyer into that world if you wanted to invest the time. I think that investment could pay as many or more dividends than your cash injections to new tech companies.

I don't see the excessive billing as a matter of efficiency, but then again I'm not seeing the billable hour statements you get. I see it as a symptom of the bloat that has created a huge crash in the legal marketplace, but I may be wrong.

I think you have the power to create the change you're looking for, perhaps just by starting this dialogue - but I know you could do it by finding a young lawyer to engage with personally as well.

[jmm]

I like this retort, fourply. Fred is basically complaining into the void here if he's not willing to put real pressure on the shiny law firms by considering going elsewhere if they don't shape up. Kinda weird actually that he showed his hand here...